Israel Based Otonomo Figures Out How to Turn Information from Cars Into Cash

Connected cars have internet access. This enables companies to record the data that they produce. For car builders and software producers, this begs the question, “How can we make a buck off of a car’s information?”

Isreal based Otonomo thinks they have the answer to gathering and marketing information from connected cars. City planners, retailers and insurance companies will be some of the consumers for the harvested information. Some insurers are already offering cheaper rates for customers willing to have their driving habits monitored through a data tracking app.

Livery car companies can use the information to dispatch vehicles with sufficient gas for the length of the trip. Hedge funds have expressed an interest in the technology as a means to study real estate trends. Information on battery levels could help power companies keep charging stations from getting overwhelmed by those needing a recharge.

Projections are that in the next dozen years the 25 gigabytes of information that connected cars put out hourly will worth $750 billion a year. Naturally, everyone wants to get their fingers in that pie. This puts auto manufacturers in direct competition with software companies.

Daimler began giving Otonomo’s software a try out in 2017. Otonomo is now working on deals for 10 other car companies to test their software. Currently, some two million cars are equipped with Otonomo’s product. That number is projected to more than double over the next year.

Toyota is working on their own system for collecting information from their vehicles’ computers.

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Carl Michael
Carl Michael captivated with the gleaming catches inside his awesome uncle's Buick Electra, it didn't take him long to get snared on the auto culture; both in the city and in hustling. Carl has worked for a noteworthy oil organization as a business agent covering a region of 40 corner stores. A while later, he turned into an escort to high positioning legislators and government authorities. Through happy stories, he investigates the connection amongst Driver and Machine. When he is not caught up with expounding on autos, he appreciates driving his 1997 Lincoln Mark VIII LSC or his 2001 Ford F150 7700.